How to unlock a $41 billion pharmaceutical revenue opportunity
From 2012-2015 there was a 13% increase in pharmaceutical revenue loss amounting to an estimated $637 billion globally on an annual basis. According to an updated report by CapGemini and HealthPrize Technologies, this loss is directly attributed to medication nonadherence. This persistent issue has only grown despite new healthcare stakeholder policies, programs and incentive programs.
What does this mean for managed care executives and other healthcare stakeholders?
What has been done?
Healthcare stakeholder alignment has begun but must remain a clear focus.
Alignment among every member of the healthcare continuum is more important than ever in order to ensure better use of limited resources. The first generation of value-based pharmaceutical contracts between manufacturers and payers were meaningful in intent but didn’t lead to real value-based change.
What needs to continue?
The patient needs to remain at the center of all value-based conversations.
Placing the patient at the center of every conversation and looking beyond the disease or the symptoms to uncover other barriers to medication adherence and improved health outcomes are the cornerstones on which programs that improve adherence, outcomes and lives must be constructed.
What needs to be incorporated?
Managed care executives should develop risk-based contracts that improve stakeholder alignment, patient adherence, acquisition of real-world data on efficacy, value-derivation and improved outcomes across the board.
Including adherence measures in joint wellness programs and ensuring inclusion and engagement of resources, including clinical pharmacists and patient support services teams, proven to improve adherence and outcomes in at-risk contracts, are solid steps in the right direction.
Interested in learning what other steps managed care execs and other healthcare stakeholders can take to battle the increasing pharma revenue loss? Read Marc’s full article at Managed Healthcare Executive.
To learn more about Curant Health, contact Senior Marketing Director, Kristin Lindsey, at email@example.com.